Secondhand car price crash? (Vol. 2)
Discussion
Sheepshanks said:
Doesn't square with there being a shortage of vans?
List prices have gone up a lot, and discounts have reduced. We're finding people are holding on to vans for longer than they would normally. Also MB have massively cut back on rental (dealer supply has no manufacturer terms bar on electric), so we can't supply rental companies that we used to have agreements to buy their vans at 12-18 months old. We're still quite a fair number of allocation back from pre Covid, however the lack of dealer rental business balances that out somewhat.
Deep Thought said:
Its probably back at the dealers already for repairs 
Just trying to think round whats happening with cars among family and friends.
BIL has kept his XJ. Normally changes his Jags every three years but there no XJ to change to. It was sort of a retirement present to himself in 2018, before that he drove XFs.
Wife and i were chatting about cars on Friday evening and shes saying shes going to keep her current Z4. Previously would have changed every three years or so, but shes saying shes just going to keep the current one. 2020 with only 12K miles and a really nice spec so makes sense.
Sister made noises about changing their Touraeg but then saw the prices of newer ones and that was knocked on the head.
Brother has a 2017 S3 saloon in that good electric blue they do. He says its a keeper.
So probably seeing more people in our circle keep their cars rather than change upwards or downwards.
I do think doing less miles since covid and silly levels of prices of new / newer cars has tempered enthusiam for changing cars.
There will be a mix of reasons but a common theme with many I speak to about their next car is really struggling to find anything appealing and the cost of change. It seems it's to early for a move to an EV, Hybrid technology worries them over the longer term with their perceived complexity,so question themselves why they want to change and justify it by saying there is nothing out there that takes their fancy, there is also a smaller range of new vehicles so not as easy any longer to swap your fiesta for a new one.Just trying to think round whats happening with cars among family and friends.
BIL has kept his XJ. Normally changes his Jags every three years but there no XJ to change to. It was sort of a retirement present to himself in 2018, before that he drove XFs.
Wife and i were chatting about cars on Friday evening and shes saying shes going to keep her current Z4. Previously would have changed every three years or so, but shes saying shes just going to keep the current one. 2020 with only 12K miles and a really nice spec so makes sense.
Sister made noises about changing their Touraeg but then saw the prices of newer ones and that was knocked on the head.
Brother has a 2017 S3 saloon in that good electric blue they do. He says its a keeper.
So probably seeing more people in our circle keep their cars rather than change upwards or downwards.
I do think doing less miles since covid and silly levels of prices of new / newer cars has tempered enthusiam for changing cars.
A modern ICE car can easily last 15 years or more and go well in excess of 100k miles, with the industry going through alot of change family and friends seem to find it easier to stick then twist unless their hand is forced i.e Expanding family.
It's a bit like mobile phones, I remember when everyone was changing their iPhone every 2 years in those early days until it got to a point where you had to question what you were really getting on the costly upgrade when your current phone did everything and more. The screens were getting bigger and many did not really want a bigger screen, other features they liked got removed. It's a bit like what has happened with the Golf and it's touch controls.
Jk89 said:
I’ve lost nothing on a pick up I bought 6 years ago.
Which is, let's face it, f
king mental. I've said this before, but the economics of these wouldn't-it-be-nice-if-we-got-back-to-precedented-times are absolutely bananas.I mean imagine how hard you'd have laughed had the sales person told you in 2018, "the number you pay will be the value in 6 years time". Sod inflation, that is just absolutely nuts.
Sheepshanks said:
I was surprised that a van hire company, not far from where we live, has been on the TV news a couple of times in March for keeping up to a couple of hundred vans parked on New Brighton prom, much to the annoyance of locals and vistors.
Doesn't square with there being a shortage of vans?
Are they drip feeding them to auction to retain high retention values? Doesn't square with there being a shortage of vans?
Are random gaps appearing between the parked vans where the odd one gets pushed to auction or via another selling platform?
In terms of vans, all the noticeable larger discounts are on electric variants , little to nothing available to lease at a competitive price in diesel (or even petrol) variant.
I’ve got a 2022 Defender purchased new with no finance. We have looked around to maybe replace it but there really aren’t many options. To order an identical car now would cost £78k. We paid £58k and the dealer offered us exactly that 2 weeks ago as a straight purchase. The prices have increased so much in 2 yrs the car has effectively stood still value wise. I don’t really want to spend any more than I have in the Defender. It’s also that there really isn’t much we are drawn towards and we genuinely love the car.
I think what I am saying is that we are now part of the group that are likely going to stick with what we have.
I think what I am saying is that we are now part of the group that are likely going to stick with what we have.
macron said:
Which is, let's face it, fking mental. I've said this before, but the economics of these wouldn't-it-be-nice-if-we-got-back-to-precedented-times are absolutely bananas.
I mean imagine how hard you'd have laughed had the sales person told you in 2018, "the number you pay will be the value in 6 years time". Sod inflation, that is just absolutely nuts.
I did get it for a great price in a private sale but I agree, it’s mental. king mental. I've said this before, but the economics of these wouldn't-it-be-nice-if-we-got-back-to-precedented-times are absolutely bananas.I mean imagine how hard you'd have laughed had the sales person told you in 2018, "the number you pay will be the value in 6 years time". Sod inflation, that is just absolutely nuts.
I’ve give up trying to make sense of anything these days. It doesn’t apply anymore.
“Queers for Palestine” is the one that makes me smile atm.
macron said:
Which is, let's face it, fking mental. I've said this before, but the economics of these wouldn't-it-be-nice-if-we-got-back-to-precedented-times are absolutely bananas.
I mean imagine how hard you'd have laughed had the sales person told you in 2018, "the number you pay will be the value in 6 years time". Sod inflation, that is just absolutely nuts.
I did get it for a great price in a private sale but I agree, it’s mental. king mental. I've said this before, but the economics of these wouldn't-it-be-nice-if-we-got-back-to-precedented-times are absolutely bananas.I mean imagine how hard you'd have laughed had the sales person told you in 2018, "the number you pay will be the value in 6 years time". Sod inflation, that is just absolutely nuts.
I’ve give up trying to make sense of anything these days. It doesn’t apply anymore.
“Queers for Palestine” is the one that makes me smile atm.
Considering the Copart route now. Buy a structually sound modern yet recoverd / non running problem and get up to scratch, do all the jobs that need doing and get them out the way. Buying a modern second hand vehicle now and you're paying a lot of money for a high miler that inevitably needs a clutch change, engine replacement, drive shafts / suspension arms / pressed wheel bearings replaced etc. Might as well strip the running gear and rebuild with new parts and then you know where you stand. Potential to add value (maybe).
ACCYSTAN said:
Are they drip feeding them to auction to retain high retention values?
Are random gaps appearing between the parked vans where the odd one gets pushed to auction or via another selling platform?
In terms of vans, all the noticeable larger discounts are on electric variants , little to nothing available to lease at a competitive price in diesel (or even petrol) variant.
The vans are owned by WWVH who operate a longer term rental business to mid size companies (lots of civil engineering firms hence the chapter 8 markings). They will be stuck between a rock and a hard place as it’s likely they have more off hires than planned over the winter but they still need to be able to provide vehicles at short notice to fulfil client requirements. Historically they would have been able to sell excess vehicles as there would be an allocation of new vehicles that they can add into their fleet when required. Are random gaps appearing between the parked vans where the odd one gets pushed to auction or via another selling platform?
In terms of vans, all the noticeable larger discounts are on electric variants , little to nothing available to lease at a competitive price in diesel (or even petrol) variant.
Sheepshanks said:
Been thinking about getting one of those - our use case for it, 20K/yr kills a cheap lease, so one of these seems a no-brainer. Is there anything “wrong” with them?
I don't know. I don't do enough miles to be bothered by the circa £1,000 yearly fuel saving.I assume there is nothing wrong with them. I also looked at Mazda MX30 at circa £13k for a 3 year old car.
Sheepshanks said:
Been thinking about getting one of those - our use case for it, 20K/yr kills a cheap lease, so one of these seems a no-brainer. Is there anything “wrong” with them?
What's your usage pattern and can you fit a decent home charger?20k a year in a 200 mile EV can be a bit of a stretch for most people.
Gassing Station | Car Buying | Top of Page | What's New | My Stuff